Tesla Rival Rivian Delivers Bad News


This is a troublesome time to be a start-up.

New entrants into the electrical car market are dealing with a slew of challenges, together with runaway inflation, provide chain hold-ups and Russia’s invasion of Ukraine.

Rivian Automotive  (RIVN) – Get Rivian Automotive Inc. Report, which went public in November, is reportedly delaying supply of its long-awaited SUV, the R1S, by one to 9 months.

Rivian didn’t instantly reply to a request for remark, however in a letter to clients posted on RivianBoards, the corporate stated that “we’ve continued to navigate a tight supply chain, we’ve had to reduce complexity wherever possible, including prioritizing certain build combinations over others.”

Source: www.thestreet.com